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D oes what it says on the tin!

D oes what it says on the tin!. Innovation Networks. We will cover. What is the innovation? The networks How the funding works The boring bits Some real life examples ……. The Innovation. A product A service A process Must be new and different Must have customers/market

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D oes what it says on the tin!

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  1. Does what it says on the tin! Innovation Networks

  2. We will cover • What is the innovation? • The networks • How the funding works • The boring bits • Some real life examples …….

  3. The Innovation • A product • A service • A process • Must be new and different • Must have customers/market • Must contribute to the regional economy.

  4. The Networks Open to all SMEs in West Midlands Working in a “Network” Examples Suppliers Customers Consultants Web developers

  5. Financial Contribution • £23,500 £12,500 • £10,000 • £1,000

  6. Partners & Suppliers • Supplier 1 • Partner and Supplier • Supplier 2 • Lead Partner • Partner 1 • Partner 2

  7. The Process • Initial meeting • Proposal submitted for feedback • Eligibility confirmed • ERDF procurement evidenced • Appraised by University • Offer made and contract agreed • 2 stage payments • 6 – 9 month projects with 6 month follow up.

  8. New Product • Safety pin substitute • Funding for tooling and patent applications • Partners • Tooling company • Marketing agency • Suppliers • Tooling company • Patent Attorney

  9. New Service • “Inspiring workshops to raise pupil aspirations” • Medical equipment and tools for an advanced series of workshops • Partners • Business mentor • Video company • Suppliers • Many small items bought • £300 - £5000

  10. New Process • New paint recycling offer • Purchased equipment and laboratory equipment • Partners • Web developer • Fabricators • Suppliers • Equipment and lab

  11. www.innovation-networks.co.uk 02476 236391

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